Student credit cards and why they are such a big hit

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Credit Card Applications » Research » Guides » Building Credit History » Student credit cards and why they are such a big hit

Student credit cards and why they are such a big hit


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

Building credit is one of the most important things especially in the given economy where more and more credit card issuers are making the credit card approval process more stringent. The minimum credit rating required to get a credit card is higher now and those who don't have a good credit history will find it real hard to get credit anywhere creating a lot of problems for them especially at a time when online shopping and deals are at the most attractive.

Build your credit history at an early stage

Student credit cards are very useful purely because they help students to start building a credit history very early. This will only augur well for them, because the better their credit history more are the chances for them to get better credit cards in the future. Students need to spend quite a lot, whether it is on books, clothes or on education. Using all that expenditure to build a good credit record and even have a regular bill payment cycle for phone or internet ensures that by the time they complete their education and out in the world, they already have a good credit rating.

Easier to get your student credit cards

At a time when most credit card issuers are treading very safely to decide whom to approve for a new credit card account and whom not to, student credit cards are available in plenty and students in fact, are spoilt for choice. The best part is that these student credit cards are offered to them right in their own college campuses, and it is the credit card companies which will do all the running around for a change. Once you are out of the college and looking for jobs, getting a credit card would prove slightly more difficult if you don't have a decent credit history.

Student loans and shared credit

If you are consistent with your bill payments, even the guarantor who needs to sign for the approval of student credit cards will benefit from the credit history that is building up. More importantly, you will able to use this credit rating and history for your benefit by getting student loans, personal loans and credit cards in the future at lower interest rates which will make things way easier for you going forward. Hence if you are confident of paying off your bills on time, going for student credit cards is a very good option.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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